2 weeks to go, until the ECOPARC SUMMIT in TEMPE, AZ. Textiles and apparel serve as a fundamental necessity for individuals worldwide. Valued at a staggering $2 trillion, the apparel industry plays a pivotal role in global economies. However, it's imperative to acknowledge that this vast industry faces significant environmental and social challenges. Today’s textile and apparel value chains are plagued by inefficiencies and fragmentation, resulting in, overproduction, high inventories, high markdown rates, and millions of tons of textiles wasted each year. This supply chain issue is one FABRIC, a 501(c)(3) non-profit, and many others would like to see it transformed as other industries have. Global manufacturers, brands, retailers, technology companies, NGO’s, investors, government, and academia will convene at FABRIC in Tempe Arizona on April 23rd and 24th at a circular supply chain summit to pilot the first EcoParc. Spearheaded by FABRIC, Future Proof Fashion, and global supply chain expert Bill McRaith, the objective of the summit is to rally key global industry supply chain visionaries and leaders and collectively embark on the first steps toward fabricating the 2030 Supply Chain Vision. By seamlessly connecting offshore, nearshore, and onshore capabilities, the EcoParc fosters dynamic demand-supply equilibrium on a global scale. Physical and technological infrastructure is fundamental to enabling the future-proofed vision of EcoParc, in addition, the leverage that comes from industry-scale collaboration de-risks, elevates, and accelerates this vital solution. “Despite all of the amazing work individuals are doing, the harsh reality is that the apparel industry is projected to grow over 250% in the next few decades, and we are falling further and further behind in our efforts to reduce the devastating impact of over purchasing up front and recycling garments at the end of life” says Bill McRaith, former CSO of PVH, SVP Sourcing at Walmart, and EVP of Victoria’s Secret, CSO Intimates at L Brands. “Only through a collective industry effort do we have any chance of addressing this at any meaningful scale” “No individual brand or company will solve the sustainability issues our industry faces,” says former CEO of Under Armour, Colin Browne, “We need to work together.” - official publication #sustainablefashion #sustainablesolutions #futureprooffashion FABRIC Incubator Sherri Barry Angela Johnson Bill McRaith Colin Browne Jennifer Guarino Sasha McFarlane Olga Penkovska https://lnkd.in/etwzcuQ8
Olga Penkovska
6mo
Great initiative! Looking forward to finding out the main insights and how to drive the project from vision to reality!
Co-Founder & CEO at VR-TECHS. C-Suite & Board Member Executive | Prop-Tech | Fashion & Retail Tech | Fashion | Branded Real Estate
6moA really important initiative Future-Proof Fashion the ECOPARC SUMMIT, where ideas and plans could be turned into action. The last paragraph is a message to all direct and indirect players, #sustainability #circularity #reciclying in the #textileindustry #apparelindustry is in BRANDS | PRODUCERS | MANUFACTURER | INNOVATORS hands in joint efforts fully aligned-synchronized. Is the only way.